Data Center Power Crunch Drives Nuclear Restarts, Gas Buildouts and Massive Utility Pipelines

Overview

• Analysts project a steep rise in electricity needs, with Goldman Sachs forecasting a 160% jump in data center demand by 2030 and the IEA cautioning that centers could consume as much power as Japan and account for up to half of new U.S. load growth.
• Constellation Energy signed a landmark power deal with Microsoft that supports efforts to restart Three Mile Island Unit 1 to supply round-the-clock carbon-free electricity.
• NextEra Energy partnered with Alphabet to restart Iowa’s 615‑MW Duane Arnold reactor, targeting a 2029 return with most output contracted to power Google’s data centers.
• Southern Company reports more than 50 GW of potential large-load growth with about 40 GW concentrated in Georgia, while Dominion Energy is in talks tied to roughly 40–47 GW of new data center capacity in Northern Virginia.
• Natural gas is positioned to carry much of the near-term growth, with Goldman Sachs estimating it will meet about 60% of AI-driven demand and Chevron launching a venture to develop gas-powered solutions as experts urge siting near major supply regions.